JATCORP LIMITED — Capital/Financing Update 2019

Dec 11, 2019

Proposed issue of securities

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Update Summary

Entity name JATENERGY LIMITED

Announcement Type

Update to previous announcement

Date of this announcement

Thursday December 12, 2019

Reason for update to a previous announcement

Resolutions approving issue of shares passed at meeting of shareholders

Refer to next page for full details of the announcement

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Proposed issue of securities

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Part 1 - Entity and announcement details

1.1 Name of +Entity

JATENERGY LIMITED

We (the entity named above) give ASX the following information about a proposed issue of +securities and, if ASX agrees to +quote any of the +securities (including any rights) on a +deferred settlement basis, we agree to the matters set out in Appendix 3B of the ASX Listing Rules.

1.2 Registered Number Type Registration Number ABN 31122826242

1.3 ASX issuer code

JAT

1.4 The announcement is

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Update/amendment to previous announcement

1.4a Reason for update to a previous announcement

Resolutions approving issue of shares passed at meeting of shareholders

1.4b Date of previous announcement(s) to this update

Monday December 2, 2019

1.5 Date of this announcement

Thursday December 12, 2019

1.6 The Proposed issue is:

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A placement or other type of issue

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Part 7 - Details of proposed placement or other issue

Part 7A - Conditions

• 7A.1 - Are any of the below approvals required for the placement or other type of issue? +Security holder approval Court approval Lodgement of court order with +ASIC ACCC approval FIRB approval

• Another approval/condition external to the entity required to be given/met for the placement or other type of issue

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Yes

7A.1a Conditions

Approval/Condition Date for determination Is the date estimated or ** Approval actual? received/condition met? +Security holder approval Thursday December 12, 2019 Actual Yes

Comments

Part 7B - Issue details

Class or classes of +securities that will participate in the proposed issue and class or classes of +securities proposed to be issued

Is the proposed security a 'New class' (+securities in a class that is not yet quoted or recorded by ASX) or an 'Existing class' (additional securities in a class that is already quoted or recorded by ASX)? Existing class

Will the proposed issue of this +security include an offer of attaching +securities? No

Details of +securities proposed to be issued

ASX +Security Code and Description

JAT : ORDINARY FULLY PAID

Maximum Number of +securities proposed to be issued

66,583,580

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Proposed issue of securities

Reason for the update of 'Maximum Number of +securities proposed to be issued'

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Purpose of the issue

Share component of acquisition of subsidiaries

Offer price details for retail security holders

Issue Currency Offer Price or consideration per Estimated or Actual? +security Actual AUD - Australian Dollar AUD 0.04560 Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class? Yes

Oversubscription & Scale back details

May a scale back be applied to this event? No

Part 7C - Timetable

7C.1 Proposed issue date

Thursday December 12, 2019

Part 7D - Listing Rule requirements

7D.1 Are any of the +securities proposed to be issued without security holder approval using the entity's 15% placement capacity under listing rule 7.1? No

7D.2 Are any of the +securities proposed to be issued without security holder approval using the entity's additional 10% placement capacity under listing rule 7.1A (if applicable)? No

7D.3 Is a party referred to in listing rule 10.11.1 participating in the proposed issue? No

7D.4 Will any of the +securities to be issued be +restricted securities for the purposes of the Listing Rules? No

7D.5 Will any of the +securities to be issued be subject to +voluntary escrow? No

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Proposed issue of securities

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Part 7E - Lead Manager/Broker & Underwriter details

7E.1 Will there be a lead manager or broker to the proposed issue? No

7E.2 Is the proposed issue to be underwritten? No

7E.4 Details of any other material fees or costs to be incurred by the entity in connection with the proposed issue

Part 7F - Further Information

• 7F.1 Will the entity be changing its dividend/distribution policy if the proposed issue proceeds? No

7F.2 Any other information the entity wishes to provide about the proposed issue

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